Good value, but definitely not luxury.
Let me preface this by saying that I am a Westerner and I was trying to travel on a shoestring, so I expected my accommodations to be a little more primitive than what I an used to at home.
However, for about $25-30/night, I was able to say in a comfortable room with my own little bathroom, TV and window air conditioner. I was on the third floor and on the street side, so it was noisy, particularly as the world began to get moving in the morning.
On the positive side, the hotel staff was wonderfully friendly and helpful, which I found to be the nature of Filipinos wherever I traveled in the country. The hotel has a small, reliable elevator which is particularly helpful when you have bags.
It is located close to one of the large malls in town and most of the main business area. It’s easy to catch a taxi or jeepny from there to anywhere else in the area. However, if you’re mostly interested in the beaches and water sports, then it might not be as convenient as other options.
There is also wireless internet in the cafe and the cafe has a decent menu with a mix of Western and Filipino dishes, as I recall.